Shalom says, "The only section that matters: "Some participants noted that if economic growth remained too slow to make satisfactory progress toward reducing the unemployment rate and if inflation returned to relatively low levels after the effects of recent transitory shocks dissipated, it would be appropriate to provide additional monetary policy accommodation....A few members noted that, depending on how economic conditions evolve, the Committee might have to consider providing additional monetary policy stimulus, especially if economic growth remained too slow to meaningfully reduce the unemployment rate in the medium run."
I'm not a financial wizard by no means, but I think the printing presses are getting greased, lubed, restocked, re-inked, and ready for $US mania printing madness in and around the debt ceiling deadline. Gold is at all all time high today, and silver is at $35-time to stock up? I cant imagine the looks on faces a year from now....I will be here to remind you dont worry.
The trading in LULU today was no shocker. Usually after a stock split its cheap again for retail sheep to get in. This has not changed the fact that the MACD and RSI are full retard. I cant possibly see how this can go higher with all the news out, but I've seen stupider things in my time. I am sticking to this trade, it feels right, someone is still in here selling and the buyer is light volume so I think the $44 gain this month is enough. Stick with this, it will be good unless shalom announced QE3 tomorrow.
I have been talking in dark corners to some good people with good info, I may be working on a Bears Video for release soon.
I would also be looking at some SLV calls for shits and gigs if you have nothing else to trade. The Jan 2012 right now around the $40 mark is trading at a joke. If silver is going where we think its going, we could easily see a 10 bagger here.
Keep stacking the phyzz, especially on mornings like these when gold is all time highs and silver was down like 2%, just plain stupid. I embrace it, as its gives me an opportunity to trade more worthless paper in for the real McCoy.
I am also accumulating Tinka here. Again. and Again. and Again. If there was areal threat, it should have already gone to Zero. Making phone calls as we speak to try and get drilling info.
I'd be careful of today's rally. Until Bermonkey explicitly says QEIII is on, I expect today's gains will soon be crushed by the EE or just general profit-taking. Remember: the banks had the FOMC minutes well in advance of the public. To the inexperienced traders, I still wouldn't be long or short (phyzz is a different story, of course). If you must trade, buy some calls well into the future.
ReplyDeleteJust my cents though.
Look at what I bought yesterday:
ReplyDelete1 oz Silver Austrian Philharmonic
1 oz Silver Canadian Maple Leaf
1 oz Silver Canadian Grizzly (Wildlife Series)
1 oz Silver Canadian Wolf (Wildlife Series)
1 oz Silver Chinese Panda (In Capsule)
1 oz Silver Mexican Libertad
1 oz Silver Somalian African Elephant
1 oz Silver Australian Koala
1 oz Silver Australian Kookabura
1 oz Silver Australian Year of the Rabbit Coin
1 oz Silver Britannia
New Zealand $2 Fiji Taku 1 oz Silver Coin
Apmex was out of Kangaroo's! Let me know if you have seen any 2011's anywhere.
My bars, 90% Ag and SAE's were getting lonely :)
Just something different to pay with.
Trader Dan,
ReplyDeleteSays look for a sell of tomorrow, profit taking, Au might go down to 1520, before the next leg up, which is towards the end of the month.
I'm of the opinion that the lows for the year may have been put in, but then again I haven't been in commodities for 25 years, like he has.
But a profit in paper is a profit.
SGS,
ReplyDeleteYou might not get this often, but THANKS!
Trader Dan...seems like a heck of a nice guy but the bs logic insight he offers is laughable. I'm sorry but the..if gold breaks 1540 then 1550 is in site and if oil breaks below 95 then 90 is support. NFS, really, I never would of thought of that. Great trader know doubt and probably a nice family man and great neighbor but that's it for the community.
ReplyDeleteI'm I wrong here?
Dan also said that Silver was going to $30 last week.
ReplyDeleteThey have excited domestic insurrections amongst us, and have endeavored to bring on the destroyers of our markets, the merciless Hedge Funds whose known rule of warfare is an undistinguished destruction of all participants through High Frequency Trading.
ReplyDeleteIn every stage of these Oppressions We have Petitioned the CFTC for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Regulator, whose character is thus marked by every act which may define a Tyrant, is unfit to enforce the rules of a free market.
Nor have We been wanting in attentions to our global trading brethren. We have warned them from time to time of attempts by the market riggers to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our physical silver settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt functioning of our globalized free markets. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of the market controllers, Enemies in War, in Peace Friends.
*****
May the Road you choose be the Right Road!Bix Weir
I have been adding to my SLV Jan 40 calls each week since the second week of May. Looking forward to 50 or 75 silver this year and my 2.20 cost today would be worth 10-35. Have even thought about writing some August calls at 39 ish to lower my basis.
ReplyDeleteBut in connection with my long calls, I have bought OTM leap puts just in cash SLV implodes. I make money as long as silver moves or even if SLV moves big.
It would seem to me that short SLV and long PSLV might be a better trade. One back by real metal the other a paper POS.
ReplyDeletelove the idea of the cc back by gold fucking brillant.....
ReplyDeletewhat do you make of this
http://silverdoctors.blogspot.com/2011/07/secret-of-oz.html#more
Yes! finally a new bears video.
ReplyDeleteThat is what i tell people, that all my investment decisions are based on the words of two cute animated bears on youtube. If only they knew...
bring on the bears!
ReplyDelete..and our 10 bagger...
@Ledbedder
ReplyDeleteFrom previous thread: I've posted before but not regularly. I do read SGS though. I loaded some $2 Dec calls, don't know wether I'll lose, seems pretty illiquid, but something down 50% while the rest is recovering seemed just pretty sweet to me.
hi ppl, im new to the trading world, just wondering if anyone can provide some options where im able to buy some physical silver or gold...
ReplyDeletesorry if this is a noob qns
Yah for shur, trading physical Silver or Gold, for sure, PSLV, PHYS. If shorting, use SLV. KTHX :)
ReplyDeleteSGS,
ReplyDeleteThe Bear videos just got a mention on CNBC.
Joe whatshisname referreed to bernanke as "The Bernank" and the new guy who replaced Carl whatshisname asked if he had seen the Bear videos.
Joe replied in the negative and new guy said he would find it and show it to him
A WORD ON TECHNICAL ANALYSTS
ReplyDeleteI happen to like a bunch of the gold and silver technical analysts. That being said, I stopped reading their work some time ago. This goes for Dan Norcini, Clive Maund, Ira Epstein, Peter Degraaf and Merv Burak to name a few.
If you would to go back and look at a series of their charting forecasts, you would have done just as well or better if you took a nice CRAP and had a pet monkey take a good handful of it and throw it a chart on the wall.
Technical charting works relatively well in a free market. Today we have quite the opposite. Who would have known those Buffoons at the FOMC would open their mouths this soon and talk about QE3 yesterday pushing up the price of gold and silver much higher.
No one can predict anything in the short term when Clowns, Misfits and Thieves run the show. All that can be done with any degree of confidence is to accumulate physical.
I do believe we will see fireworks by the end of summer and into fall when the next 3 events take place:
1) The rasing of the DEATH CEILING (as SGS coined) at the end of this month
2) The beginning of QE3
3) The opening of the PAN-ASIAN Gold and Silver exchange that would allow upwards of 330 million Chinese to participate in purchasing precious metal contracts.
This is not Technical charting. You won't see me write something stupid or silly like "The Silver Chart has suffered serious damage and will take time to repair." Who gives a rats azz about a lousy chart anyhow.
It's the fundamentals baby. Those 3 fundamentals I listed above are all we need to be concerned with as we watch our silver and gold investments increase in value tremendously over the next 6-12 months.
Unfortunately today, homo sapiens are DE-EVOLVING as a species. The brain capacity is shrinking and the bodies are turning into mush.
My wife thinks I spend too much of my time blogging on this forum. She might be right about that, but I tell her it is far more productive than wasting my time throwing 10 pound spit wads at Steve Liesman on CNBC on our TV screen.
@Johan: remind me again what you bought.
ReplyDeletehi CCP good sir,
ReplyDeleteforgive my ignorance, but when wats the difference between buyin PHYS and SPDR GOLD, i tot it will be safer to buy the physical gold/silver bar and coins itself?
Forgive my blatant stupidity
@SRS: I read all of your posts. You sound like an intelligent man, and a successful one as well. The men you mentioned about technical analysis, I do not read, due to the fact that it may influence my own (which I do not want). If you don't believe in tech analysis, why do you continue to read them? Just: BTD, right? I could fill up SGS's board on the day to day technicals, but that wouldn't be right. I also am not going to start my own blog. Do I "know" where price is going to go 100% of the time? Of course not, noone does. But between what I call "lines", support & resistance, trendlines and Fib retracements, I do pretty damn well. Of course, I stack the phyzz not really caring about this price. Maybe these guys want to buy the exact bottoms & sell the exact tops, I don't know. But for someone that wants to take a nice chunk out of the middle, the thing that you slam would generate more profits than you may realize.
ReplyDelete@SRS: missed the part where you stopped reading them a long time ago. Just because you haven't heard from someone who isn't on a blog, or writes a newsletter or sells a course doesn't mean they (we) aren't out there making good fiat, I'm just saying.
ReplyDeleteon the long pslv short slv trade:
ReplyDeleteI bought PSLV and PHYS when they started and avoided a huge premium.
I trade to create wealth-options on miners and slv and gld--I back up gld and slv failure risk by buying the puts
PSLV, PHYS CEF and GTU do not have options and for a good reason